The UK automotive sector received some welcome news as 143,000 new vehicles were registered in November, marking the fourth monthly increase in a row.
With sales also being up 23.5% on the same month in 2021, it was also the best November since the onset of the COVID-19 pandemic. While registrations for the month were still 9% down on the pre-pandemic 2019 value, this is hardly surprising given that manufacturers are still having to deal with global supply issues for components, especially semiconductor chips.
Mike Hawes, the CEO of the Society of Motor Manufacturers and Traders (SMMT), said that thanks to the sector’s ability to mitigate economic and supply challenges, as well as a surge in demand for EVs, a market recovery for new cars was back within grasp, adding:
“As the sector looks to ensure that growth is sustainable for the long term, urgent measures are required—not least a fair approach to driving EV adoption that recognises these vehicles remain more expensive, and measures to compel investment in a charging network that is built ahead of need.”
He said that this would increase the appetite for EVs among consumers and consequently speed up the UK’s transition to becoming a low-carbon society. While companies like BP, which also makes specialised lubricant and grease products for EVs under the Castrol ON brand, have announced plans to roll out charging infrastructure, much still remains to be done to make EVs an attractive prospect for many consumers, especially those who lack off-street parking for home charging.